Superhero Support

To open a Superhero account, Click Here

Most people will be able to verify their identity without having to physically send us any government-issued identification. However in some limited circumstances you will need to get in touch with us to provide further information.

If you’re having any hassles signing up, get in touch with us via live chat or email hello@superhero.com.au and we’ll have you up and running in no time.

You need to add funds to your Superhero Wallet before you can trade.

Once your Wallet is funded, you can search for a share or go to the ‘Invest’ tab to find and click on the share you wish to buy or sell.

Once your order has been executed we will send you a text message or push confirmation.

Once your order is complete, you can find your Trade Confirmation listed in the Activity tab, by clicking the dropdown next to the transaction and clicking on the pdf button.

Click on Profile within your Superhero account to change your password or update your details.

Too easy. Just go to app.superhero.com.au and click on ‘Forgot your password?’, then enter your registered email address and hit the ‘Reset Password’ button.

Mobile: click ‘Profile’ and then ‘Log Out’ on the top left.
Desktop: click ‘Log Out’ at the bottom of the menu on the left hand side.
Hot tip: for security reasons, you will be automatically logged out after 15 minutes of inactivity.

Yes, you can open an account for a person under the age of 18. A Superhero minor account allows you to invest for your children.

In Australia, it is a legal requirement to be 18 years or over in order to invest in shares. If you would like to open a Superhero Account on behalf of a minor under the age of 18, the account will need to be opened in your name and will have a designation containing the minor’s name. Only you will have access to the account.

You can open more than one minor account.

For the avoidance of doubt, the individual who opens a Superhero Account for a minor under the age of 18 will be legally responsible for the operation of the account and for complying with these Terms and Conditions.

After a minor has reached 18 years of age they will be able to create their own Superhero Account. Once this has been done, Superhero can organise an off-market transfer of the assets from the minor account to the Superhero Account they have opened in their own name.

Steps for setting up a minor account:

1. Click on the ‘Profile’ tab within your Superhero account.
2. Click ‘Add Account’ followed by ‘Minor Account’ on the top of the page.
3. Fill out the required fields and click ‘Create Account’.
4. Once the account has been created, it will show up under your account types by clicking on your name on the top left. The format of the account will show as follows: <First Name Last Name A/C>.

Two-Factor Authentication (2FA) is a security feature which requires you, as a Superhero account holder, to authorise all actions on the Superhero platform via your mobile phone.

To make it easier to place trades, you can set up a PIN which replaces SMS confirmations on trade orders. To set up your personalised PIN click on the “Profile tab” and select PIN and follow the instructions.

You can set up a PIN which replaces SMS confirmations on trade orders. To set up your PIN, click on the Profile tab and select ‘PIN’ and then follow the instructions.

The Superhero platform is accessible from outside of Australia, however there are some countries you can’t access the Superhero platform from.

Please contact us via live chat or email hello@superhero.com.au if you would like more information.

Your Superhero Wallet is your personal cash management account. This is where you can hold uninvested cash, see all your trading activity, and where any income or investment distributions you’ve received are deposited.

Available Funds are funds that can be immediately used for trading.

Unsettled Funds are funds used to buy and/or sell orders on your account that have been executed but have not yet settled.

• You can use unsettled funds on sell orders to trade
• You can not use unsettled funds on buy orders to trade

These are funds withheld from your account in order to fulfil pending buy orders, or declared, but not yet paid, dividends.

Funds may also be restricted if you elected to participate in corporate actions (e.g. share purchase plans, entitlement offerings).

If you recently deposited funds to your Superhero wallet, these funds will be restricted from withdrawal, but you can use the funds to trade at any time. PayID deposits will be restricted for one business day, while BPAY deposits are restricted for five calendar days.

Total Cash is the amount of funds available to be transferred to your bank account.

Unsettled Funds are funds used to buy and/or sell orders on your account that have been executed but have not yet settled.

• You can use unsettled funds on sell orders to trade
• You can not use unsettled funds on buy orders to trade

No, you cannot make trades unless you have enough available funds in your Superhero Wallet to cover the trade.

No, Superhero does not currently pay interest on cash held in your Superhero Wallet.

No, you do not need to maintain any cash in your Superhero Wallet to keep it active.

No, Superhero does not currently offer any lending or credit facilities to members. You can only trade with Superhero using your own funds.

You cannot directly link your bank account to your Superhero Wallet. If you want to transfer money from your bank account in near real time, you can use your personalised PayID found in your Superhero Wallet to do so.

The time it takes for funds to land in your bank account may vary depending on your bank. The withdrawal will generally take between 1 to 2 business days to appear in your bank account.

Superhero has a current daily withdrawal limit of $20,000 to help protect your assets from fraud, as stated in our Terms and Conditions.

If you need to increase this limit, please contact us via live chat or email us via hello@superhero.com.au.

You must transfer a minimum of AU$100 when making a payment to your Superhero Wallet via BPAY. Heads up: a $1 processing fee will be subtracted from the total payment.

There is no minimum amount for payments made via PayID.

To deposit funds using PayID go to your Superhero Wallet, scroll to Deposit Funds, and then Click ‘Copy’ next to the PayID symbol. This is your unique Superhero PayID.

You then need to log in to your internet banking, and use the PayID you’ve copied over as the addressee.

Hot tip: it’s super important that – if your financial institution asks – you specify that you want to use PayID via an email address. This is how your Superhero PayID is provided (don’t use a mobile number or company name).

To transfer funds out of your Superhero Wallet just click on Wallet and go to the Bank Accounts tab. The bank account you transferred funds in by PayID will automatically have been added to your account. This is the bank account you are able to withdraw to.

If you made a deposit using BPAY, you will need to make a payment using PayID or bank transfer (any amount) to your Superhero account in order to verify a bank account to which money can be withdrawn. Once your bank account has been verified this payment can be withdrawn.

Most customers find this the quickest way to verify their bank account, but if you are unable to make a deposit using PayID please contact us on live chat to have your bank account manually verified.

If you have any questions or issues or need to withdraw more than the standard withdrawal limit, you will need to contact us on live chat and you will be asked to provide further identification in order to make that withdrawal to a bank account in your name.

PayID: Funds will usually arrive in your wallet instantly. Please note: some banks may withhold your first deposit for up to 24 hours.

BPAY: Deposits take 1-2 business days to land in your Superhero Wallet.

The maximum amount you can withdraw at any time is shown in your ‘Wallet’ under ‘Total Cash’, subject to the daily withdrawal limits.

Share sale proceeds will settle to your account according to the T+2 settlement process in Australia and the U.S. T+2 means the Transaction day plus two trading days.

If you have entered incorrect bank details when withdrawing funds from your Superhero account, please get in touch via live chat or email at hello@superhero.com.au as soon as you become aware of the error. Superhero will then make best endeavours to recall the funds.

In some instances, if an incorrect BSB or account number has been entered, the funds will bounce back to your Superhero Wallet within 2 business days.

In other instances, Superhero will need to contact our banking partner to request a recall of your funds. The time taken to process these types of requests is longer as the request needs to go through external banking procedures.

There is no cost to deposit or withdraw funds from your Superhero account using PayID.

If you make a deposit using BPAY we will deduct $1.00 incl. GST from the total amount transferred as a processing fee.

The stock market is only open Monday to Friday, not on weekends or public holidays. You can still place a trade with Superhero on the weekend or on a public holiday but your order will not trade until the market is open.

The ASX is closed for most public holidays. You can find the full list of public holidays where the ASX is closed on the ASX website.

The ASX stands for The Australian Securities Exchange. The ASX is Australia’s largest securities exchange and one of the 10 largest exchanges in the world by market capitalisation.

According to the ASX website, ‘ASX acts as a market operator, clearing house and payments system facilitator. It oversees compliance with its operating rules, promotes standards of corporate governance among Australia’s listed companies and helps to educate retail investors.’

The Clearing House Electronic Subregister System (CHESS) is the computer system used by the Australian Securities Exchange (ASX) to manage the settlement of trades and record share holdings. Superhero Nominees holds an Institutional HIN on CHESS. 

The ASX opens at 10:00am Monday to Friday (excluding public holidays). Full information regarding market open times is available on the ASX website.

The trading hours for the Australian stock market are 10:00am to 4:00pm Australian Eastern Standard Time (AEST) on trading days – Monday to Friday (excluding public holidays). You can find all information relating to trading hours on the ASX website.

A Limit Order is an order to buy or sell a certain number of shares for a specified price (or better).

Limit Orders expire 30 days after you place the order. 

You need to add funds to your Superhero Wallet before you can trade.

Once your Wallet is funded, you can search for a share or go to the ‘Invest’ tab to find and click on the share you wish to buy or sell.

Once your order has been executed we will send you a text message or push confirmation.

Once your order is complete, you can find your Trade Confirmation listed in the Activity tab, by clicking the dropdown next to the transaction and clicking on the pdf button.

With a Superhero trading account, you can trade all ASX-listed shares and ETFs.

A Market Order is an order to buy or sell at the market price.

For a buy order, the order will be placed at the price set by the lowest seller in the market at the time the order is placed.

If for any reason your order does not trade immediately, the price of your order will be continually updated (increased) in increments until the order trades, either in full or partially. Where your order partially trades, the remainder of the order will convert to a Limit Order at the price that the order initially trades and will not be continually updated.

For a sell order, the order will be placed at the price set by the highest buyer in the market at the time the order is placed. If for any reason your order does not trade immediately, the price of your order will be continually updated (decreased) in increments until the order trades, either in full or partially. Where your order partially trades the remainder of the order will convert to a Limit Order at the price that the order initially trades and will not be continually updated.

In some cases, the market may move in the fraction of a second between you placing your buy or sell market order and your order hitting the market.

If the market does move during this time, there may be insufficient volume to buy or sell at the market price. This may mean your order will only partially trade.

In some circumstances your buy or sell market order may not trade at all, and will convert to a Limit Order, i.e. if there are no buyers or sellers in the market or where an order breaches regulations or our Terms and Conditions.

Your Limit or Market Order placed for ASX-listed securities will remain active for 30 days after you place the order.

No, Limit and Market Orders cannot be amended once they are placed. If you would like to change your order, please cancel it and replace your order. Market Orders will usually execute immediately.

You can cancel your order under ‘Dashboard – Pending’ and then click on ‘Review’.

Market and Limit Orders can be cancelled provided the order has not already been executed. Market Orders usually execute immediately.

You can cancel your pending order any time under ‘Dashboard – Pending’, then click on ‘Review’ and then ‘Cancel Order’.

Cancelled orders can be found under ‘Pending’ in the Dashboard. Your order may be cancelled for a number of reasons, including:

ASX and Chi-X Operating Rules and ASIC Market Integrity Rules – All orders must be entered in accordance with the ASX and Chi-X Operating Rules and the ASIC Market Integrity Rules. These rules ensure that the market operates in a fair, orderly and transparent manner.

In instances where these rules may be breached your order may be cancelled. The cancellation of orders under these circumstances is usually at the discretion of our Market Participant. ASX or Chi-X may also cancel orders at their discretion.

Examples of where action may be taken by regulatory bodies, include circumstances where there is suspected market manipulation, insider trading, or extreme price movements that create a disorderly market.

Market Participants and Superhero’s Trade Vetting Rules – To ensure a fair, orderly and transparent market, Superhero and our Market Participant have obligations to ensure orders do not breach any market Operating Rules or the ASIC Market Integrity Rules.

To meet these obligations, Superhero and its Market Participant have Trade Vetting Rules in place which may cause an order to be cancelled prior to it reaching the market. This occurs where it is detected that an order may breach the above rules and/or cause a disorderly market.

ASX and Chi-X Order Pricing Rules – Price steps are the minimum price multiples for a security. The multiple depends upon the market price of the security. The ASX price steps for shares are:
* Up to 10c, the price steps are 0.1c
* Over 10c up to $2.00, the price steps are 0.5c
* Over $2.00, the price steps are 1c

You will be unable to place an order if it is not input with the correct price multiples for a particular security.

For example – If BHP is trading at $17.65, its price steps are one cent. You may enter an order at $17.66 or $17.81 etc.

Corporate Actions – Orders are removed from the market (purged/cancelled) when the market closes on the day prior to a corporate action event that affects the value or structure of the unit holding.

Some examples of corporate actions are: dividends, capital returns and capital reconstructions; or share offerings such as a rights issue or share purchase plan.

Expired Orders – If your order does not trade on the day you place it, it will expire 30 days after you place the order.

Your trades are executed in real-time during market opening hours.

ASX 10:00am – 4:00pm Australian Easterns Standard Time (AEST)
U.S. 9:30am – 4:00pm U.S. Eastern Standard Time (EST)

You will always get the benefit of our Market Participant’s Best Execution Policy.

Yes! Superhero offers real time prices.

In order to retrieve the latest price, you will need to refresh your page.

Yes, you can. We do not charge any fees to transfer your shares into Superhero.

To transfer some or all of your existing shares to your Superhero account, complete the Superhero Broker to Broker Transfer Form and provide a copy of your government-issued ID. 

Send your signed (electronic signature is not accepted) Broker to Broker Transfer Form and a copy of a government-issued photo ID that includes your signature (e.g. driver’s licence or passport) to us via:

• live chat; or 
• email hello@superhero.com.au

Don’t forget to include your Superhero account number.

Note: you can only move shares to your Superhero account if you are the registered owner of the shares, and the name on both accounts is exactly the same.

Superhero will action your request within 48 business hours of receiving it and your shares will ordinarily be moved to your Superhero account within 7 business days.

In a small number of cases it may take a little longer. You will receive a text message once your shares are available in your Superhero account.

Yes, you can move your shares held via a Shareholder Reference Number (SRN) to your Superhero account by filling in the Superhero Issuer Sponsored Transfer Form. There is no cost to transfer your shares to Superhero.

To transfer your issuer sponsored holdings to your Superhero account:

• Please complete and sign our SRN Transfer form located at the bottom of the Superhero website under ‘Forms’ (no digital signatures)
• Prepare a copy of your Government issued photo ID (driver’s licence or passport). It must show your signature.
• Prepare a copy of your issuer sponsored holding statement dated within the last year, containing name, number of securities and SRN.
• Submit your documents to us via live chat or email it to hello@superhero.com.au

The transfer form is available here.

For ASX-listed share trading, Superhero charges a flat $5 brokerage fee per trade, regardless of transaction value or volume.

For more information on our fees, please see our Fee Schedule.

Any orders you place are directed into the market by our Market Participant.

The stock market is only open Monday to Friday, not on weekends or public holidays. You can still place a trade with Superhero on the weekend or on a public holiday but your order will not trade until the market is open.

The U.S. stock market is closed for most public holidays. The New York Stock Exchange and NASDAQ have both published calendars with closed trading days.

A Market Order in the U.S. is an order to buy or sell securities at the prevailing market price.

Market Orders are based on the dollar amount you wish to invest. This may result in the volume of shares being a fractional amount (i.e. a volume of shares less than 1).

Market Orders are placed at market, meaning that:

• if the Market Order is a Buy order, whether during U.S. Market Hours or when the market is closed, you agree to pay the prevailing market price at the time the market order is executed; and
• if the Market Order is a Sell order, whether during U.S. Market Hours or when the market is closed, you agree to receive the prevailing market price at the time the market order is executed.

All Market Orders placed for U.S. listed securities will likely trade immediately. Where this is not the case these orders will expire 30 days after you place the order via the Superhero Platform.

A Limit Order is an order to buy or sell a certain number of shares for a specified price (or better).

Limit Orders expire 30 days after you place the order. 

You need to add funds to your Superhero Wallet before you can trade.

Once your Wallet is funded, you can search for a share or go to the ‘Invest’ tab to find and click on the share you wish to buy or sell.

While it is not a requirement to disclose any arrangement for receiving payment for directing order flow, Superhero currently has no such arrangement and does not receive compensation for Securities transactions executed through designated exchanges, market makers, dealers, or market centres.Where permitted under applicable laws and rules, Superhero reserves the right to receive remuneration for directing orders in Securities. We will notify you in writing of any change to these arrangements.

A W8-BEN form is a legal U.S. Treasury document that is required by the Internal Revenue Service (IRS). The form allows foreign investors to claim concessional tax treaty benefits, including a reduced rate of withholding tax.

Superhero is authorised to collect your W-8BEN information, certification and declaration electronically. We capture this information during the account setup process.

The information we capture will include your personal information, citizenship, country of tax residency, tax file number, or international equivalent.

Once your order has been executed we will send you a text message or push confirmation.

Once your order is complete, you can find your Trade Confirmation listed in the Activity tab, by clicking the dropdown next to the transaction and clicking on the pdf button.

In some cases, the market may move in the fraction of a second between you placing your buy or sell market order and your order hitting the market.

If the market does move during this time, there may be insufficient volume to buy or sell at the market price. This may mean your order will only partially trade.

In some circumstances your buy or sell market order may not trade at all, and will convert to a Limit Order, i.e. if there are no buyers or sellers in the market or where an order breaches regulations or our Terms and Conditions.

No, Limit and Market Orders cannot be amended once they are placed. If you would like to change your order, please cancel it and replace your order. Market Orders will usually execute immediately.

You can cancel your order under ‘Dashboard – Pending’ and then click on ‘Review’.

Market and Limit Orders can be cancelled provided the order has not already been executed. Market Orders usually execute immediately.

You can cancel your pending order any time under ‘Dashboard – Pending’, then click on ‘Review’ and then ‘Cancel Order’.

Cancelled orders can be found under ‘Pending’ in the Dashboard. Your order may be cancelled for a number of reasons, including:

ASX and Chi-X Operating Rules and ASIC Market Integrity Rules – All orders must be entered in accordance with the ASX and Chi-X Operating Rules and the ASIC Market Integrity Rules. These rules ensure that the market operates in a fair, orderly and transparent manner.

In instances where these rules may be breached your order may be cancelled. The cancellation of orders under these circumstances is usually at the discretion of our Market Participant. ASX or Chi-X may also cancel orders at their discretion.

Examples of where action may be taken by regulatory bodies, include circumstances where there is suspected market manipulation, insider trading, or extreme price movements that create a disorderly market.

Market Participants and Superhero’s Trade Vetting Rules – To ensure a fair, orderly and transparent market, Superhero and our Market Participant have obligations to ensure orders do not breach any market Operating Rules or the ASIC Market Integrity Rules.

To meet these obligations, Superhero and its Market Participant have Trade Vetting Rules in place which may cause an order to be cancelled prior to it reaching the market. This occurs where it is detected that an order may breach the above rules and/or cause a disorderly market.

ASX and Chi-X Order Pricing Rules – Price steps are the minimum price multiples for a security. The multiple depends upon the market price of the security. The ASX price steps for shares are:
* Up to 10c, the price steps are 0.1c
* Over 10c up to $2.00, the price steps are 0.5c
* Over $2.00, the price steps are 1c

You will be unable to place an order if it is not input with the correct price multiples for a particular security.

For example – If BHP is trading at $17.65, its price steps are one cent. You may enter an order at $17.66 or $17.81 etc.

Corporate Actions – Orders are removed from the market (purged/cancelled) when the market closes on the day prior to a corporate action event that affects the value or structure of the unit holding.

Some examples of corporate actions are: dividends, capital returns and capital reconstructions; or share offerings such as a rights issue or share purchase plan.

Expired Orders – If your order does not trade on the day you place it, it will expire 30 days after you place the order.

Your trades are executed in real-time during market opening hours.

ASX 10:00am – 4:00pm Australian Easterns Standard Time (AEST)
U.S. 9:30am – 4:00pm U.S. Eastern Standard Time (EST)

You will always get the benefit of our Market Participant’s Best Execution Policy.

Yes! Superhero offers real time prices.

In order to retrieve the latest price, you will need to refresh your page.

Yes, you can transfer your U.S. shares and ETFs in or out of your Superhero account. Only whole shares can be transferred (i.e. not fractional shares).

If you already hold shares with another broker or with a transfer agent and would like to transfer all or some of your shares to Superhero, you will need to complete a US Share Transfer form available on our website. We do not charge a fee for accepting shares transferred from another broker, but there may be other fees depending on the transfer type, including for shares transferred from the Direct Registration System (DRS) with a transfer agent.

If you wish to transfer shares in your Superhero account to another US broker, you will need to request a transfer form from your other broker. Transferring shares out of your Superhero account will incur transfer fees, which are charged by Apex Clearing Corporation. Please see the Superhero Fee Schedule for further information.

If you require assistance please contact us via:

– live chat; or
– email hello@superhero.com.au.

Superhero does not charge brokerage fees for U.S. share trades. Superhero makes money by charging an FX Transfer Fee when you transfer funds between Australian dollars and U.S. dollars.

In some instances, there may be additional charges but these will be disclosed to you in advance. For more information on our fees, please see our Fee Schedule.

Any orders you place are directed into the market by our Market Participant.

To trade U.S. shares, you will first need to transfer AUD into USD in your Superhero Wallet.

Once you have transferred AUD to USD, you can trade U.S. shares by searching for or selecting investments on the ‘Invest’ tab within your account. Once you have found the share or ETF you wish to trade, you can Buy or Sell.

Yes, fractional trading is supported by our U.S. brokerage and execution service and is permitted on the Superhero platform.

Fractional shares are not transferable to other brokerage accounts. Not all U.S. Securities through Superhero are eligible for fractional share orders.

Fractional shares are pieces, or fractions, of whole shares of a company or ETF.

For example, if you want to invest US$100 into a stock that is trading at US$500, using fractional shares you can.

You are able to place a Market Order to buy US$100 worth of shares in that company, which is a ‘fraction’ or 0.2 of a whole share.

Fractional shares are not transferable to other brokerage accounts. Not all U.S. Securities through Superhero are eligible for fractional share orders.

A limit order is an order to buy or sell a specified number, including a fractional number of shares at a specified price or better.

Superhero provides real-time market data during U.S. market hours through licencing arrangements with Nasdaq.

The U.S. market is open at 9:30am and closes at 4:00pm U.S. Eastern time Monday-Friday with the exception of public holidays.

This is 11:30pm to 6:00am in Australian Eastern Standard Time (AEST). Please note that daylight savings time will impact these hours.

There is a minimum trade size of US$50for U.S. shares and ETFs. Keep in mind that the minimum transfer from AUD to USD is A$100.

Just like trading on the ASX, U.S. markets settle trades on a T+2 basis. This means two business days after the transaction has taken place.

You can use the proceeds of any share sales to trade right away but you can only withdraw those funds after the transaction has settled (T+2).

Any dividends or income you are eligible to receive from the U.S. shares and ETFs you own will be paid into your Superhero Wallet.

To transfer AUD to USD in your Superhero wallet, click on the USD tab and follow the steps.

Steps to transfer:
1. Type in the dollar amount you want to transfer (A$100 minimum)
2. Click ‘Calculate’. This will hold the rate for 10 seconds
3. Once satisfied with the rate, click ‘Confirm’
4. Your funds will be transferred into USD in real time and will appear in your USD wallet.

The FX Transfer fee between AUD and USD is 50 basis points (bps), meaning US$0.0050 will be added to the rate. That means US$0.50 per A$100 transferred.

For example, if you are transferring A$100 into USD and the FX rate is 0.7500 AUD/USD, you will receive an effective rate of 0.7450, or US$74.50.

For more information on our fees, please see our Fee Schedule.

There is a $100 minimum for currency transfers to or from Australian dollars and U.S. dollars.

If you have less than US$100 in your Wallet, you will be able to transfer the full amount back to Australian dollars. An FX Transfer fee will still apply in this circumstance.

To transfer AUD to USD in your Superhero wallet, click on the USD tab and follow the steps.

Steps to transfer:
1. Type in the dollar amount you want to transfer (A$100 minimum)
2. Click ‘Calculate’. This will hold the rate for 10 seconds
3. Once satisfied with the rate, click ‘Confirm’
4. Your funds will be transferred into USD in real time and will appear in your USD wallet.

Once you have entered the amount you want to transfer, and click ‘Calculate’, the rate will be held for 10 seconds.

If you do not click ‘Confirm’ within the 10-second window, you will need to hit ‘Calculate’ again.

Foreign exchange (FX) rates fluctuate frequently, which is why the rate is only held for ten seconds. This ensures you receive the most accurate rate at the time of conversion.

Your FX transfer will occur instantly and you are able to trade right away.

For more information on our fees, please see our Fee Schedule.

The FX Transfer fee between AUD and USD is 50 basis points (bps), meaning US$0.0050 will be added to the rate. That means US$0.50 per A$100 transferred.

For example, if you are transferring A$100 into USD and the FX rate is 0.7500 AUD/USD, you will receive an effective rate of 0.7450, or US$74.50.

For more information on our fees, please see our Fee Schedule.

There is a $100 minimum for currency transfers to or from Australian dollars and U.S. dollars.

If you have less than US$100 in your Wallet, you will be able to transfer the full amount back to Australian dollars. An FX Transfer fee will still apply in this circumstance.

Superhero makes money by charging an FX Transfer Fee when you transfer funds between Australian dollars and U.S. dollars.

For more information on our fees, please see our Fee Schedule.

Superhero has partnered with Apex Clearing Corporation LLC to manage its U.S. brokerage and execution services.

Apex Clearing is registered with the U.S. Securities and Exchange Commission (SEC), is a member of Financial Industry Regulatory Authority (FINRA) and is a participant in the Securities Investor Protection Corporation (SIPC). This protects every Superhero customer that holds U.S. securities for up to $500,000 (including $250,000 for claims for cash).

The full fee schedule for Superhero can be found here.

While it is not a requirement to disclose any arrangement for receiving payment for directing order flow, Superhero currently has no such arrangement and does not receive compensation for Securities transactions executed through designated exchanges, market makers, dealers, or market centres.Where permitted under applicable laws and rules, Superhero reserves the right to receive remuneration for directing orders in Securities. We will notify you in writing of any change to these arrangements.

Superhero does not charge any fees to transfer your shares to Superhero. Some brokers may charge transfer out fees depending on the transfer type, including for shares transferred from the Direct Registration System (DRS) with a transfer agent.

If you wish to transfer Aussie shares or ETFs out of your Superhero account, the only fee charged is for ETFs that have been held in your account for under 12 months. The cost to transfer these ETFs out of Superhero is A$5.00 per ETF.

If you wish to transfer U.S. shares or ETFs out of Superhero the fees are as per the below:

• Automated Customer Accounts Transfer Service (ACATS) – US$100 whole account
• Depository Trust Company (DTC) – US$100 per security
• Direct Registration System (DRS) – US$115 per security

Please see the Superhero Fee Schedule for further information.

It doesn’t cost you anything to hold funds in your Superhero Wallet. We do not charge fees for account maintenance or inactivity. You can find our full fee schedule for trades and FX transfers here.

There is no cost to deposit or withdraw funds from your Superhero account using PayID.

If you make a deposit using BPAY we will deduct $1.00 incl. GST from the total amount transferred as a processing fee.

For ASX-listed share trading, Superhero charges a flat $5 brokerage fee per trade, regardless of transaction value or volume.

For more information on our fees, please see our Fee Schedule.

Superhero does not charge brokerage fees for U.S. share trades. Superhero makes money by charging an FX Transfer Fee when you transfer funds between Australian dollars and U.S. dollars.

In some instances, there may be additional charges but these will be disclosed to you in advance. For more information on our fees, please see our Fee Schedule.

The FX Transfer fee between AUD and USD is 50 basis points (bps), meaning US$0.0050 will be added to the rate. That means US$0.50 per A$100 transferred.

For example, if you are transferring A$100 into USD and the FX rate is 0.7500 AUD/USD, you will receive an effective rate of 0.7450, or US$74.50.

For more information on our fees, please see our Fee Schedule.

Yes, you can. We do not charge any fees to transfer your shares into Superhero.

To transfer some or all of your existing shares to your Superhero account, complete the Superhero Broker to Broker Transfer Form and provide a copy of your government-issued ID. 

Send your signed (electronic signature is not accepted) Broker to Broker Transfer Form and a copy of a government-issued photo ID that includes your signature (e.g. driver’s licence or passport) to us via:

• live chat; or 
• email hello@superhero.com.au

Don’t forget to include your Superhero account number.

Note: you can only move shares to your Superhero account if you are the registered owner of the shares, and the name on both accounts is exactly the same.

Yes, you can transfer your U.S. shares and ETFs in or out of your Superhero account. Only whole shares can be transferred (i.e. not fractional shares).

If you already hold shares with another broker or with a transfer agent and would like to transfer all or some of your shares to Superhero, you will need to complete a US Share Transfer form available on our website. We do not charge a fee for accepting shares transferred from another broker, but there may be other fees depending on the transfer type, including for shares transferred from the Direct Registration System (DRS) with a transfer agent.

If you wish to transfer shares in your Superhero account to another US broker, you will need to request a transfer form from your other broker. Transferring shares out of your Superhero account will incur transfer fees, which are charged by Apex Clearing Corporation. Please see the Superhero Fee Schedule for further information.

If you require assistance please contact us via:

– live chat; or
– email hello@superhero.com.au.

Superhero does not charge any fees to transfer your shares to Superhero. Some brokers may charge transfer out fees depending on the transfer type, including for shares transferred from the Direct Registration System (DRS) with a transfer agent.

If you wish to transfer Aussie shares or ETFs out of your Superhero account, the only fee charged is for ETFs that have been held in your account for under 12 months. The cost to transfer these ETFs out of Superhero is A$5.00 per ETF.

If you wish to transfer U.S. shares or ETFs out of Superhero the fees are as per the below:

• Automated Customer Accounts Transfer Service (ACATS) – US$100 whole account
• Depository Trust Company (DTC) – US$100 per security
• Direct Registration System (DRS) – US$115 per security

Please see the Superhero Fee Schedule for further information.

Superhero will action your request within 48 business hours of receiving it and your shares will ordinarily be moved to your Superhero account within 7 business days.

In a small number of cases it may take a little longer. You will receive a text message once your shares are available in your Superhero account.

Yes, you can move your shares held via a Shareholder Reference Number (SRN) to your Superhero account by filling in the Superhero Issuer Sponsored Transfer Form. There is no cost to transfer your shares to Superhero.

To transfer your issuer sponsored holdings to your Superhero account:

• Please complete and sign our SRN Transfer form located at the bottom of the Superhero website under ‘Forms’ (no digital signatures)
• Prepare a copy of your Government issued photo ID (driver’s licence or passport). It must show your signature.
• Prepare a copy of your issuer sponsored holding statement dated within the last year, containing name, number of securities and SRN.
• Submit your documents to us via live chat or email it to hello@superhero.com.au

The transfer form is available here.

Australian-listed companies each conduct an Annual General Meeting (AGM) where shareholders can participate in decisions such as electing new directors to the board and other resolutions relating to the company’s business.

If you would like your vote lodged at a company’s AGM, you will need to reach out to our team via live chat or send us an email at hello@superhero.com.au at least 4 business days before the meeting commences.

A Share Purchase Plan (SPP) is a form of capital raising by a company that offers existing shareholders the opportunity to apply for new shares.

The intention behind an SPP is to allow shareholders to participate in a capital raise by the company, typically at a discount to the last traded price.

To be eligible to participate in an SPP, you must own shares in the company on the record date (the date set by the company).

Participation is optional. Eligible shareholders have the opportunity to buy up to a maximum of $30,000.

If you are eligible and wish to participate in an SPP, you must:

1. Respond to the invitation email Superhero sends to your registered Superhero email on the open date of the SPP. If you did not receive the email, check your spam folder, or contact us through live chat. (If you have unsubscribed from our emails, you will not receive the invitation.)
2. Click on the invitation link and complete the details before the closing date stipulated in the email. Please note the deadline can change if a company closes their SPP early. We will endeavour to notify clients if a SPP closes early but this may not always be possible due to the short deadlines offered by some companies on occasion.
3. Your application will only proceed if you have sufficient funds in your Superhero Wallet on the closing date. We will restrict the funds for the SPP from your Superhero Wallet on the closing date. We strongly encourage having the funds available when you subscribe.
4. On the share issue date, your funds will be withdrawn from your Superhero Wallet and the SPP shares will be allocated to your Superhero Account.

In some cases, the SPP will be scaled back by the company and you will not receive your full request. In this case, the balance of your funds will be refunded by the company to your Superhero Wallet.

Registry processing times may affect the actual issue date of shares.

A rights issue is a way companies raise capital from existing shareholders on a pro-rata calculation of your existing shareholding.

Rights issues are either renounceable or non-renounceable. Renounceable rights mean you can sell your existing rights or buy additional rights on the market. Non-renounceable rights are not transferable and cannot be bought or sold on the market. Companies may include a shortfall or oversubscription facility as part of their rights issue offer, meaning you can apply for additional shares on top of what you are entitled to.

To be eligible to participate in a rights issue, you must own shares in the company on the record date (the date set by the company).

1. If you are eligible and wish to participate in a rights issue, you must: Respond to the invitation email Superhero sends to your registered Superhero email on the open date of the rights issue. If you did not receive the email, check your spam folder, or contact us through live chat. (If you have unsubscribed from our emails, you will not receive the invitation.)
2. Click on the invitation link and complete the details before the closing date stipulated in the email. Please note the deadline can change if a company closes their SPP early. We will endeavour to notify clients if a SPP closes early but this may not always be the case due to the short notice given by some companies.
3. Your application will only proceed if you have sufficient funds in your Superhero Wallet on the closing date. We will restrict the funds for the rights issue from your Superhero Wallet on the closing date. We strongly encourage having the funds available when you subscribe.
4. On the share issue date, your funds will be withdrawn from your Superhero Wallet and the rights issue shares will be allocated to your Superhero Account.

Registry processing times may affect the actual issue date of shares.

A share consolidation reduces the number of shares a company has on issue. This causes the share price to increase proportionally, meaning that the percentage ownership and value of your investment remains the same.

Example: You own 100 ABC shares and they are valued at $1 each for a total value of $100. A 10:1 share consolidation means for every 10 shares you own you will now own 1. In addition, the value of each share will increase from $1 to $10 each.

Under a share consolidation the value of your investment will remain the same. As illustrated above, your investment value is $100 but you will own 10 shares valued at $10 each following the consolidation.

When a share consolidation occurs, the Activity tab in your Superhero Account will show:

Your ABC shares were consolidated at a 10:1 ratio.

A share split is when a company divides its existing shares into multiple shares, thus increasing the number of shares a company has on issue. This is usually done when the share price is relatively high. The value of the company does not change, but more shares become available, and this results in greater liquidity.

Example: You own 100 XYZ shares and they are valued at $1 each for a total value of $100. A 1:10 share split means every 1 share you own you will now own 10. In addition, the value of each share will decrease from $1 to $0.1 each.

Under a share split the value of your investment will remain the same. As illustrated above, your investment value is $100 but you will own 1,000 shares valued at $0.10 each.

When a share split occurs, the Activity tab in your Superhero Account will show:

Your ABC shares were consolidated at a 1:10 ratio.

A scheme of arrangement allows a company to reconstruct its capital, assets or liabilities with the approval of its shareholders and the Court. The most common use of a scheme is to effect the same outcome as a takeover.

Under the arrangement, the bidder and target must first reach agreement to propose the scheme to target shareholders, following which approvals are sought from both target shareholders and the Court.

If you are eligible and wish to participate in a scheme of arrangement, you must:
1. Respond to the invitation email Superhero sends to your registered Superhero email once the scheme has been announced. If you did not receive the email, check your spam folder, or contact us through live chat. (If you have unsubscribed from our emails, you will not receive the invitation.)
2. Click on the invitation link and lodge your vote before the closing date stipulated in the email.
3. Superhero will lodge your vote with the company’s share registry after the closing date.

If the scheme is approved, your existing shares will be exchanged for cash and/or bidder’s shares as set out in the terms of the scheme. This will show in the Activity tab in your Superhero Account as:

– A sell transaction in the security taken over in the scheme, with the sale price equivalent to the cash consideration per share outlined in the offer.
– If you receive the Bidder’s shares as part of the scheme, a buy transaction will reflect you acquiring the Bidder’s shares.

If the scheme is not approved, no changes will be made to your Superhero Account.

A takeover is when one company (Bidder) makes a bid to take control of another company (Target). The bidder will typically offer shareholders cash and/or shares to buy out the shareholding in the target.

If you are a shareholder of the Target, you will have the option to vote if you wish to accept or reject the bidder’s offer.

If you are eligible and wish to participate in a takeover offer, you must:

1. Respond to the invitation email Superhero sends to your registered Superhero email once the takeover has been announced. If you did not receive the email, check your spam folder, or contact us through live chat. (If you have unsubscribed from our emails, you will not receive the invitation.)
2. Click on the invitation link and lodge your vote before the closing date stipulated in the email.
3. Superhero will lodge your vote with the company’s share registry once the closing date has ended.

Please note, you will be unable to sell your shares if you have accepted the takeover offer.

If the takeover is successful, your shares will be exchanged for cash and/or Bidder’s shares regardless of how you voted. This will show in the Activity tab in your Superhero Account as:
– A sell transaction on your holdings on Superhero, with the sale price being the cash consideration per share outlined in the takeover.
– If the takeover involved receiving Bidder’s shares, you will see a buy transaction showing you were allocated Bidder’s shares.

If the takeover did not occur, nothing will happen to your holdings.

If your security has delisted from the ASX, you can no longer trade the security on the market.

After the security delists (and in some cases prior to the security delisting) Superhero will transfer your shares out of your Superhero account and into an issuer holding under your name, managed by the share registry.

If you wish to update your response, simply click on the link in the invitational email and submit a new application. Your latest application will overwrite any previous response you have made.

An option is a contract which gives you the right but not the obligation to buy or sell a security before the expiration date, at a predetermined price (exercise price).

Company options are call options issued to shareholders by the company. Option holders have the right but not the obligation to take up (exercise) the options and purchase additional shares in the company. Some company options may be listed on the ASX meaning investors can buy additional options or sell their existing options on the market. Unlisted options mean investors cannot transact them on the market.

Another feature of company options is that the terms and conditions of the options (i.e. exercise price and expiry date) are determined solely by the issuing company and released in a prospectus document. Hence, company options are non-standardised contracts and investors, as with any investment, should always read the full prospectus document to make sure all terms are understood.

If you have any further queries or if you wish to exercise your options through Superhero, please reach out to us on live chat or email us at hello@superhero.com.au.

You will be paid cash dividends into your Superhero Wallet.

When a company declares a dividend, the total amount will be available in your Dashboard under Pending until it is paid. Once a dividend is paid, the amount will be deposited into your Superhero Wallet. A transaction record and your dividend statement can be found under Activity.

Yes, any applicable franking credits are passed on to you via Superhero. To find out if you are eligible to claim franking credits, it’s best to check with your accountant or visit www.ato.gov.au for more information.

The Clearing House Electronic Subregister System (CHESS) is the computer system used by the Australian Securities Exchange (ASX) to manage the settlement of trades and record share holdings. Superhero Nominees holds an Institutional HIN on CHESS. 

Any orders you place are directed into the market by our Market Participant.

We pass your instructions on to our Market Participant. They execute your instructions according to their Best Execution Policy, the market Operating Rules and the ASIC Market Integrity Rules.

Under our Terms and Conditions your shares are held in custody by Superhero Nominees Pty Ltd (Superhero Nominees) on your behalf.

Superhero Nominees’ purpose is to act as custodian for customers pursuant to our Terms and Conditions and it does not acquire a beneficial or proprietary interest in your investments, or the income and rights attached to your investments.

For clarity, beneficial ownership means that you, the owner of the shares, get the direct benefit from the shares.

The shares purchased within your Superhero account are yours and cannot be accessed by others, including claims from any creditors of Superhero.

Under our Terms and Conditions your shares are held by Superhero Nominees Pty Ltd (Superhero Nominees) as custodian, not by Superhero Markets Pty Ltd (Superhero Markets), the company that operates the trading platform. 

In an unlikely scenario where Superhero Markets was no longer operating, your shares could be transferred by you from Superhero Nominees to another broker account. 

Superhero Nominees is not able to exercise any rights attached to the ownership of your securities, including disposing of, or otherwise dealing in, your securities, unless you instruct Superhero Nominees to do so.

The shares purchased within your Superhero account are yours and cannot be accessed by others, including claims from any creditors of Superhero.

If you want to learn more about Superhero’s structure, please refer to our Terms and Conditions, including the Nominee Terms at Schedule 1.

No, Superhero does not have access to your investments for its own use.

Superhero Nominees’ purpose is to act as custodian for customers pursuant to our Terms and Conditions and it does not acquire a beneficial or proprietary interest in your securities or cash, or the income and rights attached to your securities.

Superhero Nominees is not able to exercise any rights attached to the ownership of your securities, including disposing of, or otherwise dealing in, your securities, unless you instruct Superhero Nominees to do so.

For more information on the custody of your shares and Superhero Nominees, please refer to our Terms and Conditions, including the Nominee Terms at Schedule 1.

The National Guarantee Fund (NGF) is a compensation fund administered by the Securities Exchanges Guarantee Corporation (SEGC), that is available to meet certain valid claims which may arise from dealings with participants of ASX and Chi-X.

Superhero, as a client of a market participant, is able to make claims in certain circumstances to the SEGC. Superhero would also be able to facilitate a claim on behalf of a client in certain circumstances. Our Market Participant may also be able to make a claim on a customer’s behalf.

You can find information on circumstances which may warrant a claim at www.segc.com.au in the ‘NGF Information Booklet’.

Your funds are held with NAB and can only be accessed via your Superhero account.

Under our Terms and Conditions your shares are held by Superhero Nominees Pty Ltd (Superhero Nominees) as custodian, not by Superhero Markets Pty Ltd (Superhero Markets), the company that operates the trading platform.

In an unlikely scenario where Superhero Markets was no longer operating, your shares could be transferred by you from Superhero Nominees to another broker account.

If you want to learn more about Superhero’s structure, please refer to our Terms and Conditions, including the Nominee Terms at Schedule 1.

In the unlikely event our banking partner, NAB, were to fail, the funds held in your Superhero Wallet would not be covered under the Australian Government Financial Claims Scheme.

The Financial Claims Scheme provides protection to depositors of up to $250,000 per account-holder, per authorised deposit-taking institution (ADI) (bank, building society or credit union) in the event of the ADI failing.

While it is not a requirement to disclose any arrangement for receiving payment for directing order flow, Superhero currently has no such arrangement and does not receive compensation for Securities transactions executed through designated exchanges, market makers, dealers, or market centres.Where permitted under applicable laws and rules, Superhero reserves the right to receive remuneration for directing orders in Securities. We will notify you in writing of any change to these arrangements.

A W8-BEN form is a legal U.S. Treasury document that is required by the Internal Revenue Service (IRS). The form allows foreign investors to claim concessional tax treaty benefits, including a reduced rate of withholding tax.

Superhero is authorised to collect your W-8BEN information, certification and declaration electronically. We capture this information during the account setup process.

The information we capture will include your personal information, citizenship, country of tax residency, tax file number, or international equivalent.

Superhero makes money by charging an FX Transfer Fee when you transfer funds between Australian dollars and U.S. dollars.

For more information on our fees, please see our Fee Schedule.

In some cases, tax may be withheld on your account. Tax is typically only withheld on dividends, income and interest.

The rate of withholding is dependent on information you provide relating to your citizenship, country of tax residency, tax file number, or international equivalent, and if there is a tax treaty between the country you are a resident of and the country that is the source of your investment income.

All orders for U.S. securities are subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) related fees & charges. These fees are included in the order value as part of your transaction.

The U.S. shares you hold in your Superhero Account are held by Apex Clearing Corporation LLC (Apex) on your behalf as custodian.

Apex does not acquire a beneficial or proprietary interest in your securities or cash, or the income and rights attached to your securities.

For clarity, beneficial ownership means that you, the owner of the shares, gets the direct benefit from the shares. Direct benefits include dividend payments, capital gains, etc.

The shares purchased within your Superhero account are yours and cannot be accessed by others, including claims from any creditors of Superhero or Apex.

Please see Safety of Customer Assets at Apex Clearing Corporation document

Please see Safety of Customer Assets at Apex Clearing Corporation document

To become a Superhero Super member you will need to register for an individual account by visiting our website www.superhero.com.au or downloading our mobile app and selecting “Register” and completing the online application form.

New Members

The the easiest way to move your super to Superhero Super is to:

1. Create a trading account at www.superhero.com.au
2. Select ‘Add Super Account’ on the Dashboard
3. Follow the Superhero Super registration steps

You will be required to provide your Tax File Number to create a Superhero Super account.

4. You will have the ability to transfer your existing super to Superhero Super using the ATO’s SuperMatch service and if appropriate, request for a transfer over to your Superhero Super account. Alternatively, you can transfer your super by logging into your my.gov.au account.

Current Members

If you are already a Superhero Super member, you will be able to find your existing super to Superhero Super using the ATO’s SuperMatch service and if appropriate, request for a transfer over to your Superhero Super account. Head over to the Profile section of your account on the Superhero Super Member Portal.

Please use the pre-filled Superhero super Employer Contribution Form to provide to your employer

If you are under age 67, you are eligible for both employer and voluntary contributions to super.

If you are aged between 67-74, you must satisfy the work test before contributions can be accepted. To satisfy the work test, you must have worked at least 40 hours in not more than 30 consecutive days in the financial year or meet the work test exemption. To meet the work test exemption criteria, you must have:

1. satisfied the work test in the income year preceding the year in which you made the contribution
2. a total super balance of less than $300,000 at the end of the previous income year
3. not relied on the work test exemption in a previous financial year.

You can also make downsizer contributions if you are 65 or over.

If you are age 75 and over, you are eligible for superannuation Guarantee contributions if you are working and downsizer contributions. You can make a voluntary member contribution if it is received by the Fund within 28 days of the date on which you turn 75.

Superhero Super’s USI is 43 905 581 638 018. You can also find it in the Profile section of your Superhero Super account.

Superannuation is an important mechanism for long term saving for retirement.

If you are age 18 and over and earn more than $450 a month (or under 18 and working more than 30 hours per week), your employer is required by law to pay Superannuation Guarantee (SG) contributions (currently 9.5% of your salary) into your super fund.

There is no minimum account balance required to setup a Superhero Super account.

It is not compulsory to provide your TFN, however if you choose not to do so, higher tax will apply to your concessional contributions, and we cannot accept personal contributions from you. Also, the tax on super benefits may be higher and it may not be possible to locate any lost super benefits or to combine your superannuation accounts or transfer your super benefits to another complying fund.

We are authorised to collect your TFN under the Superannuation (Supervision) Act 1993, Australian Taxation Act 1997, in compliance with the Australian Privacy Principles. TFNs are used for legal purposes only. This includes finding or identifying your super benefits where other information is not sufficient, calculating tax on super payments and providing information to the ATO. These purposes may change in line with legislation.

If you provide your TFN, we may provide it to another super fund or retirement savings account provider that receives any of your transferred super benefits in the future, unless you notify us in writing not to forward your TFN. Your TFN may also be given to the ATO.

New Members

The the easiest way to move your super to Superhero Super is to:

1. Create a trading account at www.superhero.com.au
2. Select ‘Add Super Account’ on the Dashboard
3. Follow the Superhero Super registration steps

You will be required to provide your Tax File Number to create a Superhero Super account.

4. You will have the ability to transfer your existing super to Superhero Super using the ATO’s SuperMatch service and if appropriate, request for a transfer over to your Superhero Super account. Alternatively, you can transfer your super by logging into your my.gov.au account.

Current Members

If you are already a Superhero Super member, you will be able to find your existing super to Superhero Super using the ATO’s SuperMatch service and if appropriate, request for a transfer over to your Superhero Super account. Head over to the Profile section of your account on the Superhero Super Member Portal.

Please use the pre-filled Superhero super Employer Contribution Form to provide to your employer

The First Home Super Saver Scheme (FHSS) scheme allows you to make voluntary concessional and/or non-concessional contributions up to $15,000 p.a. (and up to $30,000 across all years) into your super fund to save for your first home. You can start making contributions at any age.

However, to be eligible for this scheme you must:

1. be 18 years or older
2. apply for and receive an FHSS determination from the ATO before signing a contract for your first home or applying for release of your FHSS amounts
3. have never owned property in Australia
4. not previously requested the Commissioner to issue an FHSS release authority in relation to the scheme.

The contribution types include:

1. Employer contributions
2. Personal contributions
3. Spouse contributions
4. Government co-contributions
5. First Home Super Saver (FHSS) Scheme
6. Downsizer (if 65 or over)

You can find more information about contributions in the ‘Adding to your super’ section of the Additional Information Guide on our website.

If your contribution can be successfully processed before 5pm on June 30 your contribution will be included in that financial year.

You must contact us, via live chat through our website or by email at hello@superhero.com.au so we can advise if it is possible to process your contribution within our operating hours.

Generally, you can claim a tax deduction for personal contributions you make. The personal contributions that you claim a deduction on will count towards your concessional contribution cap.

To claim a deduction, you must complete and submit to us a Notice of intent to claim or vary a deduction for personal super contributions form (Notice of Intent), available at ato.gov.au, and receive an acknowledgment from us that your Notice of Intent is valid.

The other eligibility requirements are that you must lodge your completed Notice of Intent by the earlier of:

– the date you lodge your income tax return for the financial year in which you make the contribution, or

– 30 June of the next financial year.

You also need to lodge the Notice of Intent before you request any rollovers out of your Superhero Super account.

Yes, you can make additional contributions to your Superhero Super account. Additional contributions must be a minimum of $100 and can be made via BPay.

You can find the BPAY contribution details in the Profile section of your account on the Superhero Super Member Portal.

You can make the following contributions:

1. Concessional contributions – The current limit for a concessional contribution is $25,000 in each financial year. You can carry forward any unused amount of your concessional contribution cap, provided your total super balance is less than $500,000 as at 30 June in the previous year. Any unused contributions cap will expire at the end of 5 years.
2. Non-concessional contributions – For the 2020-21 financial year, the annual non-concessional (post-tax) contributions cap is $100,000. This amount is reduced based on your total super balance as at 30 June in the previous financial year and is reduced to nil if your total super balance is equal to or greater than the general transfer balance cap, which is currently $1.6 million and set to rise to $1.7 million from 1 July 2021. If you’re below the age of 65, and subject to your total super balance as at the 30 June in the previous financial year, you can bring forward the equivalent of one or two years of your annual cap from future years. This means you can make contributions up to two or three times the annual cap amount over the bring-forward period. Refer to www.ato.gov.au for more information on the bring-forward arrangements.

Super funds have a legal obligation to process rollovers within 3 business days of having all the required information to enable them to do so.

Where there is a delay, you should refer to your previous fund. Some slow moving funds can take up to 30 days to transfer your super.

Employer contributions into your super are taxed at 15% when received by Superhero Super. The net amount is available for investing.

Example: If your employer paid $1,000 into your super account, $150 will be paid to the ATO as tax on contributions. The remaining $850 will be available for investing.

Superhero Super only offers accumulation accounts, it does not offer a pension account. However here is some information:

If you are 60 years or over and your pension assets exceed the “transfer balance cap” of $1.6 million ($1.7 million from July 2021), investment earnings on your pension account will no longer be tax free.

You can correct this by:

1. transferring the excess amount (above $1.6 million) to an accumulation account balance, or
2. withdrawing the excess amount from super (providing you are eligible to withdraw benefits in full).

You can find more information on this at www.ato.gov.au

To transfer your super to Superhero using myGov, see below steps:

Create a Superhero Super account click here. Once your account is created, your Superhero Super account will show in your myGov account. This can take up to 5 days to appear.

Once complete, follow the below steps:

1. Create or log into your myGov account and ensure you have linked your account to the ATO
2. Go to the ‘Super’ tab, which will show your existing superannuation accounts
3. Choose the fund/s you want to transfer to Superhero Super
4. Select your Superhero Super as the fund you wish to transfer to
5. Confirm your selection and your funds should arrive in your Superhero Super account in 3-7 business days

For more information go to my.gov.au or https://www.ato.gov.au/general/online-services/

Yes! Partial rollovers in or out of Superhero are accepted but there may be some conditions.

Partial rollovers can be selected during the setup process for Superhero Super. Additional rollovers must be the lesser of of $100 or the total balance of your account.

There is no minimum account balance required to setup a Superhero Super account.

It is not compulsory to provide your TFN, however if you choose not to do so, higher tax will apply to your concessional contributions, and we cannot accept personal contributions from you. Also, the tax on super benefits may be higher and it may not be possible to locate any lost super benefits or to combine your superannuation accounts or transfer your super benefits to another complying fund.

We are authorised to collect your TFN under the Superannuation (Supervision) Act 1993, Australian Taxation Act 1997, in compliance with the Australian Privacy Principles. TFNs are used for legal purposes only. This includes finding or identifying your super benefits where other information is not sufficient, calculating tax on super payments and providing information to the ATO. These purposes may change in line with legislation.

If you provide your TFN, we may provide it to another super fund or retirement savings account provider that receives any of your transferred super benefits in the future, unless you notify us in writing not to forward your TFN. Your TFN may also be given to the ATO.

If you wish to transfer or rollout your super to another fund, you will need to complete a rollover via another fund or via the My Gov website. You can also find a form on our website to rollover your super.

With a Control account, you are able to invest up to 75% of your super in the following investment types:

• Australian Shares listed in the ASX 300 index;
• Listed Investment Companies (LICs); and
• Exchange-Traded Funds (ETFs).

The remaining 25% of your super must be allocated to our Managed Investment Option (at a minimum).

More information can be found in our Investment Guide.

Autopilot accounts must have a minimum of 70% of your account balance allocated to a Managed Investment Option. You also can choose up to six Themed Investment Options. Your contributions will be automatically invested in line with the preferences that you selected when you set up your portfolio.

A maximum of 10% can be allocated to any single Themed Investment, while the combined amount allocated to Themed Investment Options cannot be more than 30% of your account balance.

70% will be allocated to a Managed Investment Option – Diversified Global Index Portfolio

Themed Investment Options include:

• U.S. Tech;
• Asia Tech;
• Global Healthcare;
• Global Sustainability;
• Gold; and
• High-Interest Cash.

More information can be found in our Investment Guide.

You are only able to invest in shares that are listed on the Superhero Super Member Portal. Please note, these may change from time to time.

Transfers from your Diversified Portfolio to your Wallet typically occur between 10:30am and 4pm, Monday to Friday.

Any funds held in cash in your Superhero Super Wallet are held by a custodian (or sub-custodian) in an account/s with an authorised deposit-taking institution (ADI). Any interest earned will be added to your Superhero Super Wallet.

Tax on superannuation depend on type of contributions made or income received. Please refer to the section “How super is taxed” on Superannuation Guide.

More information can be found on Australian Government’s Money Smart website.

The Trustee is required to act in members’ best interests and has therefore set limits on the amount you can invest in individual investments.

With a Control account, you can contribute up to 75% of your super balance and future contributions towards your Superhero Wallet. The balance, which is not directed to your Superhero Wallet will be invested in the Diversified Global Index Portfolio.

You can invest in shares and ETFs through your Control account however each investment comes with its own unique investment limit. These limits ensure a level of diversification across your portfolio to limit concentration risk.

You can find the limits in our Investment Guide. They will also be available when you look at purchasing individual investments.

Tax is deducted on super contributions, investment earnings (such as dividends), and withdrawals.

Types of contributions:

1. Concessional contribution (examples: employer contributions, salary sacrifice) – 15% contribution tax deducted at the time of contribution provided you have supplied your TFN. If you are considered to be a high-income earner, that is your income is more than $250,000 for the financial year, you may pay additional tax on your contributions, referred to as Division 293 tax. If this applies to you, the ATO will notify you after the end of the financial year. 
2. Non-concessional contributions (NCCs)  (example: paid by you using after-tax money). No tax is payable for NCCs below the NCC cap. NCCs form part of the tax free amount in your super. No tax is deducted on withdrawal. However, if you claim a tax deduction for personal contributions you make to your super account then your personal contributions will count towards your concessional contributions. 
3. Spouse Contribution – If you contribute on behalf of a low income or non-working spouse, you may be able to claim a tax offset of up to $540 per year, which is 18% for contributions up to $3,000. The $3,000 contribution limit reduces by $1 for each $1 that your spouse’s assessable annual income (plus reportable fringe benefits and reportable employer super contributions) exceeds $37,000. There is no offset available where your spouse’s assessable income (plus reportable fringe benefits and reportable employer super contributions) exceeds $40,000. Other eligibility criteria apply. For more information go to www.ato.gov.au. 

Types of investment earnings:

1. Dividends – 15% income tax deducted annually or on withdrawal
2. Capital gains – Some capital gains may be taxed at a concessional rate of 10% on withdrawal

Lump sum payments made to you:

1. Under preservation age – whole taxable amount is taxed at maximum of 20% (excluding Medicare)
2. Between preservation age and under 60 – No tax on taxable amount up to the low rate cap (currently $215,000. Taxable amounts over the low rate cap are taxed at a maximum of 15% (excluding Medicare)
3. Age 60 and over – No tax is payable
4. Terminal illness benefit – No tax payable if eligibility criteria is met

Earnings on investments within your super fund are taxed at 15%. These include dividend payments, capital gains and interest, less any tax deductions or credits.

Capital gains are taxed at 10% if the asset is held for longer than 12 months and 15% if held for less than 12 months.

You are eligible for default insurance cover if:

1. You have submitted a Member Application via the Superhero Super Member Portal; and
2. You have not opted out of Insurance; and
3. You have completed the Occupation Category questions; and
4. An initial contribution or a rollover has been received by Superhero Super to cover your insurance premium.

The insurance premium you pay will depend on a number of factors such as the sum insured, your occupation, and your age when you took the insurance cover. Please refer to the Premium Rates Table on page 7 of our Insurance Guide for more detailed information.

You must notify us in writing as soon as reasonably practicable of any event entitling you to a benefit, including:

• death (by an authorised representative),
• diagnosis of a Terminal Illness or Total Permanent Disability (TPD), and
• diagnosis of an injury or illness likely to give rise to Total Disability.

On receipt of notification of a claim, you will be provided with claim forms. The claim forms must be fully completed by you (and your treating Doctor and Employer, if applicable) and returned to us as soon as possible. You may be requested to obtain other such information and documentation that the Insurer requires to consider and process the claim. A claim will not be processed until all the relevant documentation is received by the Insurer.

If the completed claim forms are provided more than one year after the event giving rise to the claim, and the delay results in the Insurer’s interests being prejudiced, the Insurer may not accept liability for the claim or, alternatively, may reduce the liability in respect of the claim to the extent of the prejudice the Insurer has suffered.

For more information on how to make a claim, please refer to our Insurance Guide.

For the assessment and payment of your claim, you will be required to provide the following:

• satisfactory proof of death for a death claim;
• satisfactory proof of age;
• for TPD and Terminal Illness claim, you must provide two (2) treating Doctor reports prepared using the forms prescribed by the insurer at your own expense;
• if required by the insurer, you must provide reports from a doctor on your medical condition at such times as the insurer may reasonably require, at the insurer’s expense;
• in relation to the payment of a TPD or Terminal Illness Benefit, the insurer shall have the right to conduct, at its expense, a medical examination with a doctor of the insurer’s choice, including pathology testing such as blood tests, at such times as the insurer may reasonably require; and
• you must provide any additional information the insurer needs to assess the claim, at your own expense.

The amount of cover that the Insurer must pay is the amount for which cover is in force:

1. On the Date of Death, if the claim is for Death;
2. On the Date of Disablement, if the claim is for Total and Permanent Disablement;
3. On the Date of Certification, if the claim is for a Terminal Illness.

Cover may continue if you are residing overseas for work purposes, provided that:

• The insurer continues to receive a premium from you; and
• The period of time overseas is no longer than five years; and
• In the insurer’s opinion, the residence overseas is temporary in nature.

This is outlined on page 15 of our Insurance Guide.

Your level of default cover for death & TPD will depend on your age. Please refer to our Insurance Guide for more information.

If you meet the eligibility criteria, Default Cover commences for New Events only. There must be a sufficient account balance to pay the first monthly Premium.

New Events Cover will apply for 24 months from the date that your cover commenced. If you are not At Work continuously for 60 consecutive days at the end of the 24-month period then the New Events cover will continue until you have been At Work for 60 consecutive days.

To nominate beneficiaries, you’ll need to complete a form and may need to have your nomination witnessed by 2 eligible people.

Please forward the completed form to us via live chat through our website or by email at hello@superhero.com.au.

The form can also be downloaded from our website.

To request access to your super due to financial hardship, contact us via live chat through our website or by email at hello@superhero.com.au.

You will be required to complete a Benefit Payment form, which can be found on our website.

Income protection insurance pays up to 75% of your pre-tax income for a specified period if you’re unable to work due to illness, partial or total disability.

Income protection cover is not currently available through Superhero Super.

For more information please refer to our Insurance Guide.

Life (Death) cover insurance provides financial support for your family and other dependants if you die or you’re diagnosed with a terminal illness. TPD insurance provides financial support to you if you suffer a total and permanent disability. TPD insurance can be taken as a stand-alone policy or as an extension to life cover. Only “any occupation” life and TPD cover is provided via super. Cover ends at age 70.

Provided you meet the eligibility conditions for cover, when you join Superhero Super you can choose to receive default death and total and permanent disablement cover without any medical underwriting. Your default cover will be for New Events only (see below) for the first 24 months. If you are not At Work continuously for 60 consecutive days at the end of the 24-month period then New Events cover will continue until you have been At Work for 60 consecutive days. The amount of default cover provided will depend on your age.

For more information please refer to our Insurance Guide.

If you are less than 25 years of age you may choose TPD only cover as your Default Cover by writing to the Fund within 120 days of the date your cover first commenced.

On your 25th birthday you will automatically receive Death cover for the same amount as your TPD cover.

For more information please refer to our Insurance Guide.

No, you are currently only able to receive Default Cover, which includes both Life and TPD Insurance cover.

For more information please refer to our Insurance Guide.

Insurance is provided to Superhero Super members by MLC Limited.

For more information please refer to our Insurance Guide.

Provided you meet the eligibility conditions, when you join Superhero Super you can choose to receive default death and total and permanent disablement cover without any medical underwriting.

Your default cover will be for New Events only for the first 24 months.

New Events cover is cover for an illness first diagnosed or an injury that first occurs on or after the date your cover commences or recommences in Superhero Super.

For more information please refer to our Insurance Guide.

Superhero offers Life and TPD Insurance cover that is dependent on a number of factors. Depending on your age, you may be eligible for up to $250,000 of cover.

For more information please refer to our Insurance Guide.

No, you are currently not able to transfer existing insurance policies into your Superhero Super account.

For more information please refer to our Insurance Guide.

You sure can. If you would like to add or change the tax file number you initially provided Superhero during our tax questionnaire, please contact us via live chat.

If you need to provide your tax details, or if you have made a mistake when completing our tax questionnaire, please contact us on live chat.

In Australia, you usually have a Tax File Number (TFN). If you are an Australian citizen or resident who has a TFN, you don’t need an ITIN. An International Tax Identification Number (ITIN) is a number assigned to individuals for global taxation purposes.

You will need to provide an ITIN if you are registered or required to pay tax in the U.S. or another country. 

If you are required to tax in the U.S., you need to provide us with your Individual Taxpayer Identification Number. Hint: to locate your ITIN, please check your most recent tax lodgement or contact the Internal Revenue Service (IRS).

A W8-BEN form is a document used by the U.S. Internal Revenue Service (IRS) to determine whether or not you are a foreigner for U.S. tax purposes.

For most Australians, what this means for you is that you will have 15% of any income or interest generated from your U.S. investments withheld. If you do not complete this form, the default U.S. withholding tax rate is 30%.

The IRS provides more about W8-BEN forms here. 

You will be asked to provide your TFN to Superhero during our tax questionnaire when you make your first deposit with Superhero. If you need to update the tax details or if you have made a mistake when completing our tax questionnaire, please contact us on live chat.

Superhero stores your information securely in keeping with our Privacy Policy.

We operate in accordance with the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The APPs govern the way in which we collect, use, disclose, store, secure, and dispose of your personal information.

In order to meet both Australian and International tax reporting and withholding obligations, we need to ask you for some information regarding your tax residency status. You will be prompted to complete this when you make your first deposit with Superhero.

To complete the Superhero tax questionnaire:

1. Select country of birth;
2. Then your country of citizenship (can be more than one);
3. Choose your country of tax residency (typically the country you reside and pay tax in);
4. If you are a foreign tax resident, provide your International Tax Identification Number (ITIN);
5. If you are a resident for U.S. tax purposes, you will need to provide us with your Individual Taxpayer Identification Number (ITIN)
6. Complete the W8-BEN Tax Certification declaration. More information on W8-BENs can be found here.

For us to meet our Australian and International tax reporting and withholding obligations, we need more information from you when you make your first deposit with Superhero.

By collecting information on your citizenship, tax residency status and tax identification numbers, we will be able to fulfil our tax reporting obligations and if applicable, you might benefit from lower concessional withholding tax rates and/or franking credits.

In certain circumstances, we must ask for and you are required to provide additional information, whereas some information we ask for is optional – we will provide further information where necessary.

When investing in US securities, the additional information (including a declaration) you provide will constitute a W8-BEN or W9 form in relation to withholding tax under a tax treaty between your country of tax residence and the US Government (if applicable).

A W8-BEN form is a legal U.S. Treasury document that is required by the Internal Revenue Service (IRS). The form allows foreign investors to claim concessional tax treaty benefits, including a reduced rate of withholding tax.

Superhero is authorised to collect your W-8BEN information, certification and declaration electronically. We capture this information during the account setup process.

The information we capture will include your personal information, citizenship, country of tax residency, tax file number, or international equivalent.

Yes, any applicable franking credits are passed on to you via Superhero. To find out if you are eligible to claim franking credits, it’s best to check with your accountant or visit www.ato.gov.au for more information.

In some cases, tax may be withheld on your account. Tax is typically only withheld on dividends, income and interest.

The rate of withholding is dependent on information you provide relating to your citizenship, country of tax residency, tax file number, or international equivalent, and if there is a tax treaty between the country you are a resident of and the country that is the source of your investment income.

Feedback about Superhero?
We love hearing feedback from our customers. To get in touch, either jump on live chat or email us via hello@superhero.com.au

If you wish to make a complaint, our Customer Success Team can be contacted via live chat through our website or by email at hello@superhero.com.au. We will try to resolve your complaint honestly, efficiently and fairly.Superhero has a formalised client complaint resolution procedure in place to resolve any complaints or concerns you may have about the services provided to you. Our complaints team reviews, records and investigates all complaints Superhero receives and escalates matters to the Superhero Compliance Department as required.If you make a complaint, our first response will be to contact you to discuss the complaint and to register a formal record of such complaint. If, despite our best efforts you believe your complaint has not been satisfactorily dealt with, you may contact an independent industry arbiter, namely, the Australian Financial Complaints Authority (“AFCA”), of which Superhero Securities (No. 31571) is a member.

You can contact AFCA by writing to:
Australian Financial Complaints Authority
GPO Box 3
Melbourne VIC 3001
Toll Free: 1800 931 678
Email: info@afca.org.au
Website: www.afca.org.au